Freestanding Office
7 Forest Avenue, Portland, ME 04101
COMMERCIAL - Portland, ME
Type:Office
Property size:
5,102 SFLot size:
0.04 AcresPrice / SF:
$214/SF- Added:
- Jun 16, 2026
- Days on Market:
- 13
- Last Refresh:
- Jun 28 at 3:06 am
Property Features for 7 Forest Avenue
General Information
- Property type
- Commercial Sale
- Property subtype
- Office
- Zoning
- B3C
- Rooms
- Basement
- Parking features
- Offsite
- Basement
- Full
- Accessibility
- Accessible Approach with Ramp
- Standard status
- Active
- Size
- 5,102 SF
- Lot size
- 0.04 Acres
Taxes and HOA fees
- Tax Year
- 2023
- Tax Annual Amount
- 10233
Utilities
- Sewer type
- Public Sewer
- Heating system
- Natural Gas, Forced Air, Zoned
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1900
- Number of units
- 10
- Flooring type
- Composition, Tile, Laminate, Carpet, Vinyl, Wood
- Building materials
- Masonry, Brick
- Roof type
- Flat, Membrane
Listing agent Anthony Donovan (207) 329-6732
Listing office Spectrum Real Estate 84 Middle Street, Portland, ME (207) 805-3707
Listing date Jun 16, 2026
MLS# 1606165
Copyright © 2026 Maine Listings. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Freestanding downtown Portland, ME office building with 5,000 SF plus a full 2,000 SF basement
- Building is easily divisible for multiple tenants or flexible space configurations
- Zoned to allow residential use; seller will provide plans for renovation to residential
- Central air cooling; zoned natural gas forced‑air heating
- Parking nearby; accessible approach with ramp
- Utilities include public water and public sewer; masonry brick construction with flat membrane roof
Overview
This freestanding commercial office building offers a versatile configuration that can be used as a single tenancy or divided to accommodate multiple tenants. The property includes a main office area and a full basement, providing additional space that may support storage or other functional needs. As presented, the building supports renovation planning toward residential conversion, with seller-provided plans for residential use described in the remarks. Zoned B3C, the property is positioned as a flexible option for owner-occupiers, investors, or operators seeking adaptable space.
Located at 7 Forest Avenue in downtown Portland, Maine, the property benefits from a central setting within a business-oriented area. The listing notes convenient access to local amenities and transportation, and that parking is available nearby.
For tenants or owner-users, the ability to divide the building can support a range of office requirements, from one consolidated headquarters to multiple offices under one ownership. For buyers evaluating alternate use, the B3C zoning and the stated availability of renovation plans for residential conversion provide a practical pathway to repurpose the building. The freestanding nature of the asset also supports operational privacy and independent identity.
Located at 7 Forest Avenue in downtown Portland, Maine, the property benefits from a central setting within a business-oriented area. The listing notes convenient access to local amenities and transportation, and that parking is available nearby.
For tenants or owner-users, the ability to divide the building can support a range of office requirements, from one consolidated headquarters to multiple offices under one ownership. For buyers evaluating alternate use, the B3C zoning and the stated availability of renovation plans for residential conversion provide a practical pathway to repurpose the building. The freestanding nature of the asset also supports operational privacy and independent identity.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $111.4k | $21.84 |
| − Vacancy | −$14.0k | −$2.75 |
| EGI | $97.4k | $19.09 |
| − OpEx | −$24.3k | −$4.77 |
| NOI | $73.0k | $14.32 |
5,102 SF · lease $21.84/SF/yr · vacancy 12.60% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.04M
$913.0K – $1.22M
NOI $73,041 @ 7.0% cap · market cap 6.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.40M
$1.23M – $1.64M
NOI $98,160 @ 7.0% cap · market cap 8.96%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Office buildings
Location Insight
- Map
- Local Demand
- City
- Portland
- County
- Cumberland
- State
- Maine
- Longitude
- -70.262592
- Latitude
- 43.6554676
Nearby Similar for Sale
FAQs
What type of property is this?
Office building - Freestanding office building with flexible, divisible layout and a full basement for added storage or workspace.
Where is this office building located?
The property is located at 7 Forest Avenue Portland, ME.
What is the asking price?
The asking price for this property is $1,095,000.
What are key features of this property?
This property features: Freestanding downtown Portland, ME office building with 5,000 SF plus a full 2,000 SF basement; Building is easily divisible for multiple tenants or flexible space configurations; Zoned to allow residential use; seller will provide plans for renovation to residential
